FoodBIN 2009 and Beyond

Lou Cooperhouse Margaret Brennan Director

Director, Economic Devel.

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Welcome!

Welcome to FoodBIN 2008 – The 6th Annual Conference of the Food Business Incubation Network!

• Five previous Food Business Incubation Conferences Now Held:– 2002: Rutgers Food Innovation Center– 2003: Northeast Center for Food Entrepreneurship at Cornell– 2004: SUNY Morrisville– 2005: Oregon State University Food Innovation Center– 2007: Iowa State University– 2008: Rutgers Food Innovation Center, in partnership with

Community Food Security Coalition

• The FoodBIN conference has become the world's leading venue for advancing best practices in food business incubation, and identifying programs, services, and partnerships that can maximize impacts to food and agribusinesses within regional economies

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Food Business Incubators and Innovation Centers

Differences• Missions and Guiding Principles

– Wealth creation through microenterprise development– Redevelopment or diversification of local area– Job Creation– Promotion of economic self-sufficiency among a specific

population (i.e. women in rural areas, minority businesses) – Technology transfer – Development of specific industries

• Range of Services Provided • Type of Sponsors, Stakeholders and Sources of

Funding– University-based– Community-based

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Food Business Incubators and Innovation Centers

Similarities• Catalyze the process of starting and growing

companies• Provide management assistance and orchestrated

exposure to critical business, finance, and technical support services (that may otherwise be unaffordable, inaccessible, or unknown to the entrepreneur).

• Provides entrepreneurs with the expertise, networks and tools they need to make their ventures successful. – Diversifies economies – Creates jobs – Builds wealth– Creates tax dollars to stimulate local economies

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All Serving Common Clients

Startup food companies coping with challenges such as financing, technology, regulations, market development, and infrastructure requirements

Farmers and Cooperatives desiring to create new businesses based on value-added agricultural products and/or developing new markets for their existing commodities

Established food companies seeking to introduce new products and processes, access new technologies, upgrade quality assurance capabilities, enter new markets with branded or private-label products, and expand and improve their operations

Retail and Food Service Establishments seeking to improve their operations and purchase local products

Vertical and Horizontal Client Clusters Result in Enhanced Knowledge Transfer and Higher Paying Jobs

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What are some of the benefits if we worked together?

• Identify best practices in incubator development, from legal structure issues, food safety requirements, processing equipment capabilities, etc.

• Enable new opportunities for us to collaborate on client projects, funding sources, etc.

• Create one common resource library that we can all link to, and eliminate unnecessary redundancies

• Create a common methodology for reporting our impacts• Provide for annual national and international meetings, in

addition to regional workshops, and website chat rooms, “ask an expert” forums, etc.

• Establish new venues for our clients’ products to be marketed, distributed and sold

• Post our success stories, testimonials, and impacts via common template that will illustrate the value of food business incubation to our stakeholders, and to any other groups worldwide that want to explore the rewards of food business incubation

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Food Business Incubation NetworkClient and Resource Cluster Created For Food

Industry Growth

Farmers&Coops

Food Startups

Food Manuf.

Retail&FoodsvcMarkets

NBIA & Other

Incubation/ Entr. Orgs

Foundation and

Funding Sources

State &FederalFood/AgAgencies

IndustryService

Providers

Angel Networks and VC Sources

Food & AgTrade

Associatns.

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Food Business Incubation Network (FoodBIN)

Draft of Mission

To be a catalyst for the development, growth and prosperity of food and agribusinesses by providing university, community, and

other organizations with the resources and support needed to deliver the highest

quality services possible

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Food Business Incubation Network (FoodBIN)

Draft of Vision

FoodBIN will become recognized as the authority on food and agribusiness

innovation and incubation, and will help to facilitate the improvement of local

economies worldwide.

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Target Audience1. Existing Food Incubator

Organizations• To leverage the strengths of existing food innovation

organizations so they can become more effective:– Develop best practices for food business incubation.– Provide information, research, networking and funding

resources and opportunities to help members develop and manage successful business incubation programs.

– Facilitate communication and partnership between food incubators around the world through networking activities such as the organization of workshops, seminars and conferences.

– Inform members, through FoodBIN’s online library and the publication of regular newsletters, of the latest advancement in the food industry by keeping abreast of trends, legislative initiatives, development and technological advancements in the industry.

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Target Audience2. Developing Food Incubator

Organizations

• To encourage the development of and provide support for new and recently-formed food business innovation centers in communities around the world– Provide virtual forum for non-members to ask question on

food business incubation and value-added agribusiness.– Learn from success stories, testimonials, and impacts

that will illustrate the value of food business incubation to potential stakeholders.

– Utilize existing incubator members to mentor newly established food incubators during the early stages of their startup phase.

– Recognize food business incubation as a valuable development tool

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Potential Funding Sources

• Foundations/Corporations– Private Foundations – Community Foundations

– Corporate Foundations/Corporations • US Government Grants• International Grants

– May be very interested in mentoring concept • Membership Fees• Conference, Publications, and other fees

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FoodBIN – Potential Next Steps

• Rutgers FIC to establish initial website to create awareness and enable development of database

• Establish Advisory Board of Directors, potentially representing the various regions of the US, Canada, South America, Europe, Asia, Africa.

• Develop initial short and long term operating plan and budget

• Determine start-up funding requirements that will maintain viability.

• Identify strategic partners and federal and international funding sources that may subsidize development costs